priceactiontds

priceactiontds

Good Evening and I hope you are well. comment: Huge gap down on Globex open and market just sold off. We retraced about 50% and now it’s decision time again. Bears need to keep it below 21500 for a retest of 21000 or lower and bulls want the megaphone to continue and squeeze the shorts to death. Above 21500 no bear can hold short and we will most likely see...

priceactiontds

Good Evening and I hope you are well. comment: We have a first decent pull-back and so far every dip buyer lost money. We are at the daily 20ema and missed the breakout price by 4 ticks. I think the odds favor the bulls to get another leg up and try 80 again. 5 consecutive daily bear bars is a bear micro channel and buying into this is a bad buy. Bulls will...

priceactiontds

Good Evening and I hope you are well. comment: Bulls got another two bigger legs up which now makes it 5. Question now is, how likely is a continuation before a deeper pull-back? I do think Friday’s price action could have been the start of a wider profit taking by more bulls but until the bull channel is clearly broken and we have traded consecutive bars below...

priceactiontds

Good Evening and I hope you are well. comment: By full bear mode I don’t mean you just short 21394 and hope for the best. You wait for selling pressure first. Friday we got some decent selling pressure to the 1h 20ema which held since Tuesday. I expect another leg up first before we break below 21300. We have left behind 4 consecutive bull gaps and on Friday we...

priceactiontds

Good Evening and I hope you are well. comment: Bull channel continues and we are at the top again. At this point it’s possible this spikes above the channel to print 22k. Wild to live through this tbh. 21700 likely next, bears need something below 21500 and then 21380. It’s beyond climactic and overbought. current market cycle: bull trend - blow-off top key...

priceactiontds

Good Evening and I hope you are well. comment: Pretty much tapped out of this market at the moment. I thought it looked decent that we could bottom out at 75 but another strong spike down to 74.5 is wild. current market cycle: trading range key levels: 73 - 80 bull case: Bulls have their do or die moment at 73 tomorrow. Either bottom out or we likely see 70...

priceactiontds

Good Evening and I hope you are well. nasdaq e-mini futures comment: Market went a couple of points short of the previous lower high 22111 but it probably won’t mean much. We are close enough that we can retest the ath now. There is a big gap even on futures down to 21700 and if that stay’s open, bulls can go higher. We have the big upper bull trend line that...

priceactiontds

Good Evening and I hope you are well. comment: Bull channel/expanding triangle, doesn’t matter. Trade it until clearly broken. No one knows how high this can go and I said, until we clearly see consecutive big bear bars, bulls are in full control and you should look for longs instead of shorts. Market is beyond overvalued and overbought but that does not matter...

priceactiontds

Good Evening and I hope you are well. comment: One again we saw a huge Globex sell spike but now follow-through. Bulls are on their way to 6100 and there we will see how many buyers we can find to retest the ath 6186. Plan is simple, trade the bull channel/expanding triangle until clearly broken. current market cycle: trading range (obvious bull trend on lower...

priceactiontds

Good Evening and I hope you are well. comment: Bull channel is what you should trade for now. I do think the top is near though. My plan for tomorrow is to see if market stalls more around 21170/21200 and if bears come around to short this down to 21000 again. There I expect bulls to appear again and try another higher high. The bull channel is valid until broken...

priceactiontds

Good Evening and I hope you are well. comment: We have touched the bear trend line and my bullish targets are met. The daily bar closed on it’s low and is decent enough for bears to get potential follow-through into the end of the week. I would want either very strong confirmation for shorts below 73 or a lower high below 75 before I short this. No interest in...

priceactiontds

Good Evening and I hope you are well. comment: Neutral. Last week I noted that my bearish bias was probably not good since us markets were bullish enough and dax could not move below 20100. The big gap up on Tuesday was the first clue to refrain from shorts and on Wednesday bears gave up and we melted higher until Friday’s close. The upside is now probably very...

priceactiontds

Good Evening and I hope you are well. comment: 4th consecutive bullish weekly bar but the tails above are getting bigger (weekly chart). The volume is also increasing, which could be a sign of more participants thinking it’s a good time to scale into shorts and out of longs. If there would be a run on oil because macro reason xyz, volume would have been bigger...

priceactiontds

Good Evening and I hope you are well. comment: The bull channel is clear and valid until broken. I do think a bigger pull-back is overdue but until then, bulls are in control. current market cycle: trading range key levels: 2670 - 2770 bull case: Bulls want to print above 2761 and make a new high above the December high. If they can get it, we could...

priceactiontds

Good Evening and I hope you are well. comment: After hours selling was strong, especially on nasdaq. Sp500 is still well above 5950, which is my line in the sand for bulls. Below the odds for the bears increase big time. I still lean bullish for a retest of 6000 and I do think bears need stronger selling (spike + channel) to trap late bulls. Today was a...

priceactiontds

Good Evening and I hope you are well. tl;dr sp500 e-mini futures - Neutral around 6000. Market is close to the daily 20ema, bear trend line and big round number 6000. I won’t even think about longing this but it’s obviously wrong to short too early. As long as bulls keep it above 5950, they are good and in full control of the market. Targets above are 6030 and...

priceactiontds

Good Evening and I hope you are well. tl;dr dax xetra - Neutral and waiting for bears. New ath 20629 and market stayed above 20600, which is very bullish. Bears would need a miracle to reverse this over the next 1-2 days. We are once again at multiple upper bullish trend lines that should be resistance but market could just continue higher. I don’t have any...

priceactiontds

Good Evening and I hope you are well. comment: Market is in balance around 94k. Bulls want to test the bear trend line and bears want to get below 94000 to test 90000 again. Market is contracting so don’t make this more complicated as it years. Trade near the extremes and not too much in the middle. current market cycle: trading range key levels: 90000 -...